Second Avenue Capital Partners and White Oak Commercial Finance closed a $35 million asset-backed revolving credit facility for Charming Charlie, a Houston-based women’s specialty retailer.
The new facility will be used to finance the company’s working capital needs.
“The Charming Charlie stores occupy a unique and important niche within women’s specialty retailing, and with SACP’s retail-centric focus and White Oak’s tailored financing structures, we were able to provide the support and flexible capital the Charming Charlie leadership team needs to execute its vision,” said Chris O’Connor, president of SACP.
“Charming Charlie has demonstrated unparalleled progress in re-establishing a strong business amid many challenges, and we are pleased to work with SACP to help this iconic retail brand reach for new levels of success,” said Robert Grbic, president and CEO of White Oak.
Charming Charlie currently operates 262 stores in the U.S.
